GDP Price Index (2Q A)

GDP ALLX (2Q A)

From Cesar:

GDP:

grew 1.9% below expectations of 2.3%

rebates helped consumption grow 1.5% for 1.08% contribution to growth

net exports added 2.42% to growth

inventories were drag of 1.92%

residential investment was down -15.6% after declining 25.1% last month and the drag was “only” .62% after subtracting over 1% from GDP the last 3 quarters…
housing drag on GDP will diminish as decline decelerates and housing shrinks as % of total GDP

Continuing Jobless Claims (Jul 19)

Jobless Claims ALLX (Jul 26)

From Cesar:
Initial and continuing claims:

jump to new cycle highs of 448k and 3,282k, respectively (no special factors noted)
the weakness in this real-time indicator seems to tell us more about current state of economy than today’s GDP reports or tomorrow’s payrolls…